VC-backed Sorbent Therapeutics expands board of directors

Sorbent Therapeutics, a Sunnyvale, Calif.-based biopharmaceutical firm focused on treating cardiovascular and renal diseases, has added Jay Shepard and William D. Waddill to its board of directors. Shepard is an executive partner at Sofinnova Ventures while Waddill is the senior vice president and chief financial officer at Calithera Biosciences. Sorbent’s backers include CMEA Capital, ARCH Venture Partners, Sofinnova Ventures, AgeChem and Novartis Venture Funds.

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Teva agrees to buy VC-backed Labrys for up to $825 mln

sraeli pharmaceutical company Teva Pharmaceutical Industries has agreed to acquire Labrys Biologics for $200 million in upfront payment in cash as well as up to $625 million in payments based on achievement of certain pre-launch milestones. Based in San Mateo, Calif., Labrys is a biotech firm focused on treating migraine. It was backed by venBio, Canaan Partners, InterWest Partners and Sofinnova Ventures.

Spark Therapeutics attracts $72.8 mln Series B

Spark Therapeutics has closed $72.8 million in Series B financing. Sofinnova Ventures led the round with participation from Brookside Capital, Deerfield Management Company, Rock Springs Capital, T. Rowe Price Associates, Wellington Management Company, The Children’s Hospital of Philadelphia and two unnamed healthcare funds. Based in Philadelphia, Spark Therapeutics is a developer of gene therapy products that treat rare, debilitating diseases.

Coherus BioSciences nabs $55 mln Series C

Coherus BioSciences has raised $55 million in Series C funding. The investors included KKR, Venrock, RA Capital Management, Rock Springs Capital, Fidelity Biosciences, Sofinnova Ventures, Lilly Ventures and Vivo Capital. Based in Redwood City, Calif., Coherus BioSciences is a biologics platform focused on biosimilars.

Sorbent Therapeutics closes first tranche in $15 mln Series D

Sorbent Therapeutics, a Sunnyvale, Calif.-based biopharmaceutical firm focused on treating cardiovascular and renal diseases, has closed a $6.5 million tranche in a $15 million Series D financing. The investors were CMEA Capital, ARCH Venture Partners, Sofinnova Ventures, AgeChem and Novartis Venture Funds.

Principia Biopharma nabs $50 mln Series B funds

Principia Biopharma has raised $50 million in Series B financing. Sofinnova Ventures led the round with participation from investors that include Morgenthaler Ventures, New Leaf Venture Partners, OrbiMed, SR One and Mission Bay Capital. In addition to the financing, Dr. Srinivas Akkaraju, a general partner at Sofinnova Ventures, has been added to Principia Biopharma’s board of directors. Based in South San Francisco, Principia Biopharma is focused on developing small molecule drugs within the fields of autoimmune disease and oncology.

NuCana grabs $57 mln Series B funds

NuCana has raised $57 million in Series B funding. Sofinnova Ventures led the round with participation from Sofinnova Partners, Morningside Ventures, Alida Capital International and the Scottish Investment Bank, the investment arm of Scottish Enterprise. In addition to the funding, James Healy and Gerald Chan, co-founder and chairman of Morningside Ventures respectively, have been added to NuCana’s board of directors. Based in Edinburgh, NuCana is an biopharmaceutical firm focused on anti-cancer medicines.

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VC-backed Versartis raises $126 mln for IPO

Versartis has launched its IPO after pricing its 6 million shares at $21 per share. The stock began trading Friday on the NASDAQ under the ticker symbol “VSAR.” Morgan Stanley and Citigroup are the lead underwriters. Based in Redwood City, Calif., Versartis is an endocrine-focused biopharmaceutical company focused on treating growth hormone deficiency. Its backers include Sofinnova Ventures, Aisling Capital, New Leaf Venture Partners and Advent Life Sciences.

First Aid Shot Therapy completes Series B

Consumer healthcare company First Aid Shot Therapy has completed a Series B financing round. Sofinnova Ventures and Redmile Group co-led the round with additional support from investors including Sofinnova HealthQuest, Clearwell Group and Mark Rampolla, founder and former CEO of ZICO Beverages, maker of ZICO Pure Premium Coconut Water.

Crocus Technology Secures $45m Series D

Crocus Technology, a developer of magnetically enhanced semiconductor technologies for mobile security, embedded microcontrollers, harsh environment electronics and magnetic sensors, has raised 34 million euros ($45 million) in additional capital. A new private investor, Industrial Investors, joined the round led by Idinvest Partners. Major investors Sofinnova Ventures, Innovation Capital, Nanodimension and Ventech also participated.

Guavus Acquires Neuralitic Systems

Guavus, a provider of big data analytics solutions, has acquired Neuralitic Systems, a mobile data monetization and marketing analytics experts serving the telecommunications industry. Guavus is backed by Investor Growth Capital, QuestMark Partners and previous investors Artiman Ventures, Sofinnova Ventures and Intel Capital.

Guavus Raises $30m Funding

Guavus, a provider of big data analytics solutions has closed a $30 million round of new funding. Investor Growth Capital led the round with participation from QuestMark Partners and previous investors Artiman Ventures, Sofinnova Ventures and Intel Capital.

Salveo Completes Additional Financings and Acquisition

Specialty pharmacy company Salveo Specialty Pharmacy has completed a second round of equity and debt funding and the subsequent acquisition of Mission Road Pharmacy. Salveo Specialty Pharmacy is backed by Three Arch Partners, NewSpring Capital and Petra Capital Partners. The additional equity financing was led by new investor Sofinnova Ventures. The debt financing included additional subordinated debt provided by Petra, as well as a new senior credit facility provided by Regions Bank.

Phizer Buys VC-Backed NextWave Pharmaceuticals

Phizer is snapping up NextWave Pharmaceuticals—a company backed by a laundry list of investors including Panorama Capital, Bay City Capital, Kearny Venture Partners, Aisling Capital, Fidelity Biosciences, Sofinnova Ventures and Vivo Ventures. Under the terms of the deal, Pfizer will pay $255 million to NextWave’s shareholders at closing. NextWave’s shareholders are eligible to receive up to $425 million in additional money, based on sales milestones. NextWave closed a $45 million round last January.

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